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WaterWorld Inc. operates an aquarium and water park in Orlando, Florida. In addition to daily admission tickets, WaterWorld offers two other ticket options. First, it

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WaterWorld Inc. operates an aquarium and water park in Orlando, Florida. In addition to daily admission tickets, WaterWorld offers two other ticket options. First, it offers an annual pass for $600 that allows unlimited access to the aquarium and theme park for one year from the date of purchase. In addition, it offers a Summer Fun Pass that allows unlimited access to the waterpark for June, July, and August for $450. Both pass options require full payment at the time of purchase. On April 1, 2017, WaterWorld entered into a contract with a customer to purchase a Summer Fun Pass. Required: 1. Prepare WaterWorld's journal entries in 2017 related to the annual pass. 2. Prepare WaterWorld's journal entries related to the Summer Fun Pass

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